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The group led by Andrew Cavenagh completed a deal for 51% of the Rangers shareholding on 30 May Rangers have posted losses of £14. 8m - down from £17. 2m - in their accounts to year-end June 2025, despite record revenues of £94. 1m, which are up 7% from £88. 3m. The Ibrox club's annual accounts highlight reduced operating expenses - down 4% to £92. 2m - and a £2. 7m profit before player trading, which is up from a loss of £2m in 2023-2024 and a loss of £10. 5m in 2022-23. In the nine years since getting promoted from the Championship to the Premiership, it is only the second time that Rangers have recorded a profit before player trading. The other occasion was after their run to the Europa League final in 2021-2022. The player trading figure does not include the transfer fees received for Hamza Igamane, Jefte, Ridvan Yilmaz and Cyriel Dessers, who were all sold after the end of the financial year. "We've achieved record revenues for the second consecutive year, reduced our cost base and delivered a pre-player trading profit, " the annual report stated. "That's created a more stable platform to invest again in the team and infrastructure as the club moves into its next phase of growth. "While player trading remains an area where we can further strengthen our financial performance, the sales completed post year-end show that investments made in previous windows are beginning to support our business model and give us confidence for the future. " As they try to establish financial stability after years dominated by heavy losses, Rangers' cash balance shows a significant increase from a year ago, when it stood at just £1. 7m. That number is now £30. 5m as a result of the injection of finance from the new owners after the club was taken over by Andrew Cavenagh and his group of investors in May. "The new equity investment completed in May has given us a strong base to continue investing in the team, our facilities and our long-term future, " the report adds. "Our focus is on maintaining that balance, investing on the football front while strengthening the club's financial footing over the medium term. " It is understood that the club is continuing to pay-off at least one, and probably two, former managers - Russell Martin and Philippe Clement, with the latter joining Norwich City this week. Including the incumbent, Danny Rohl, and Barry Ferguson, who was brought in on an interim basis at the end of last season, Rangers have had four different managers in what has been a turbulent 2025. Visit our Rangers page for all the latest news, analysis and fan views Get Rangers news notifications in the BBC Sport app 'Shock and awe - England bring big guns to Ashes shootout' Uneasy, unnerved, un-Smith - Australian great falters in spotlight Fantasy Premier League: Gameweek 12 Q&A with expert Gianni Buttice - send us your questions Nick Mohammed and Joe Marler face the ultimate Traitors betrayal Is cricket financially healthy? Daddy Issues is back for a new series Sir Stephen Fry has remained 'faithful' to Black Berry 'Aberdeen savour the most perfect game ever played' How Mc Tominay became a Napoli icon after Man Utd exit Scotland men's internationals to be shown live on BBC Commonwealth Games: Why is it so special to be part of Team Scotland? From titles to tinpottery - rank Scotland's top 10 clubs England fight back as 19 wickets fall on incredible Ashes first day. Video England fight back as 19 wickets fall on incredible Ashes first day Uneasy, unnerved, un-Smith - Australian great falters in spotlight The mate-sipping London import aiming to down England From 18st kid to world champion - the rise of Benavidez Ashes predictions - TMS pundits have their say 'Best display of season' but Chelsea rue missed opportunity How Norris and Piastri's strengths stack up in F1 title fight How does Arsenal defence compare to Premier League's best? Body or ranking - Boulter's Australian Open dilemma Are you not being entertained? The decline of the open-play goal The big questions now Scotland are going to the World Cup Built for the Ashes - England's pace evolution 'It felt like God's hand on my brain' - the day England were humbled by teenager Joshua given offer he simply couldn't refuse - Bunce Target Liverpool, go four at back - FPL tips to kick-start your season Copyright © 2025 BBC. The BBC is not responsible for the content of external sites. Read about our approach to external linking.